Review requirements of "qualifying" dividends before selling securities.
If you do not itemize deductions,you might benefit by doubling your annual charitable contributions every other year,allowing you to itemize in the years you make the gifts without affecting the standard deduction in the other years.
Use all tax-advantaged retirement savings opportunities.
If you have stocks that are down and you do not have much confidence in their future performance,consider selling to realize a loss that can be used to offset otherwise taxable gain. If your loss exceeds your gain,you can deduct up to $3,000 of loss against ordinary income,and any excess can be carried forward into future years.
If you wish to adjust your portfolio,consider transferring some appreciated assets to a qualified charitable remainder trust.No capital gains will be paid by you on the initial transfer or by the tax exempt trust when the asset is sold. The income-tax deduction may offset the tax due on the sale of securities outside of the trust.
Reduced tax rates mean greater disposable income,the economic measure with the highest correlation to charitable giving.Increased disposable income and stock market indices trending upward suggest that year-end 2003 may be a good time to review charitable plans for Hamilton.
Review "Tax Cuts Mean Extra Cash Now" on the IRS Website (www.irs.gov) and the Planned Giving page on the Hamilton College Website (alumni/PlannedGiving/).
Consider establishing a Roth IRA for gainfully employed children or grandchildren.
Please advise the College if you have included Hamilton in your estate plan or completed a planned gift so you can be honored and recognized as a Joel Bristol Associate.
